iShares Convertible Bond ETF (BATS:ICVT) Short Interest Update

iShares Convertible Bond ETF (BATS:ICVT) was the recipient of a large drop in short interest in May. As of May 29th, there was short interest totaling 129,774 shares, a drop of 80.3% from the May 14th total of 657,266 shares. Based on an average daily volume of 798,421 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.5% of the company’s stock are sold short.

iShares Convertible Bond ETF Price Performance

BATS ICVT traded up $1.75 during mid-day trading on Friday, reaching $119.90. 193,556 shares of the company’s stock traded hands, compared to its average volume of 832,535. iShares Convertible Bond ETF has a 1-year low of $87.43 and a 1-year high of $124.22. The company has a fifty day simple moving average of $114.36 and a 200-day simple moving average of $106.47.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Bank of America Corp DE lifted its holdings in iShares Convertible Bond ETF by 3.2% during the 3rd quarter. Bank of America Corp DE now owns 2,647,316 shares of the company’s stock worth $264,864,000 after buying an additional 82,318 shares during the last quarter. LPL Financial LLC lifted its holdings in iShares Convertible Bond ETF by 20.2% during the 4th quarter. LPL Financial LLC now owns 1,035,083 shares of the company’s stock worth $101,956,000 after buying an additional 174,077 shares during the last quarter. AMG National Trust Bank lifted its holdings in iShares Convertible Bond ETF by 7.4% during the 1st quarter. AMG National Trust Bank now owns 565,061 shares of the company’s stock worth $57,518,000 after buying an additional 39,016 shares during the last quarter. Greenleaf Trust lifted its holdings in iShares Convertible Bond ETF by 0.8% during the 4th quarter. Greenleaf Trust now owns 451,146 shares of the company’s stock worth $44,438,000 after buying an additional 3,596 shares during the last quarter. Finally, Advisory Alpha LLC lifted its holdings in iShares Convertible Bond ETF by 3.6% during the 3rd quarter. Advisory Alpha LLC now owns 449,503 shares of the company’s stock worth $45,672,000 after buying an additional 15,566 shares during the last quarter.

About iShares Convertible Bond ETF

The iShares Convertible Bond ETF (ICVT) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund tracks an index of USD-denominated convertible bonds weighted by market value. The index contains only cash-pay convertibles and excludes mandatory and preferred convertibles. ICVT was launched on Jun 2, 2015 and is managed by BlackRock.